Hancock Whitney Corp Takes $221,000 Position in Edison International (NYSE:EIX)

Hancock Whitney Corp acquired a new position in Edison International (NYSE:EIX) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 2,543 shares of the utilities provider’s stock, valued at approximately $221,000.

Several other large investors have also added to or reduced their stakes in the stock. Highline Wealth Partners LLC purchased a new stake in Edison International in the third quarter worth $26,000. Ashton Thomas Private Wealth LLC bought a new position in Edison International in the second quarter valued at about $27,000. Eastern Bank bought a new position in Edison International in the 3rd quarter worth $27,000. Country Trust Bank purchased a new position in Edison International during the second quarter valued at approximately $29,000. Finally, Farmers & Merchants Investments Inc. lifted its position in shares of Edison International by 53.8% in the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 140 shares in the last quarter. Institutional investors own 88.95% of the company’s stock.

Insiders Place Their Bets

In other news, VP Adam S. Umanoff sold 25,619 shares of the business’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $83.05, for a total transaction of $2,127,657.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Royal Bank of Canada upped their price target on shares of Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Jefferies Financial Group started coverage on shares of Edison International in a research note on Thursday, November 7th. They issued a “buy” rating and a $93.00 price target on the stock. Wells Fargo & Company boosted their price target on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Barclays raised their target price on shares of Edison International from $89.00 to $91.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Morgan Stanley reduced their price target on Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $88.75.

Edison International Price Performance

Edison International stock opened at $88.39 on Thursday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. Edison International has a one year low of $63.15 and a one year high of $88.77. The company has a market cap of $34.22 billion, a P/E ratio of 25.92, a price-to-earnings-growth ratio of 2.09 and a beta of 0.92. The business has a fifty day moving average of $84.76 and a two-hundred day moving average of $80.41.

Edison International (NYSE:EIX) last released its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.13. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.01 billion. During the same quarter in the previous year, the firm earned $1.38 earnings per share. The firm’s revenue was up 10.6% on a year-over-year basis. As a group, analysts predict that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.53%. The ex-dividend date of this dividend was Monday, October 7th. Edison International’s payout ratio is 91.50%.

About Edison International

Edison International, through its subsidiaries, engages in the generation and distribution of electric power. The company supplies and delivers electricity to approximately 50,000 square mile area of southern California to residential, commercial, industrial, public authorities, agricultural, and other sectors.